Actually Ford's financial position has greatly improved in the last 2 years. In 2008 they were mortgaged to the hilt but more than half of that has been paid back in the last couple years.
The thing to remember is they actually borrowed more than they needed from the markets in 2007 and early 2008 and then borrowed some from the Fed when they were handing out cash. While the rest of their balance sheet looked horrible they had a huge amount of cash on hand to meet immediate cash needs (and then some) - something the other automakers didn't have and couldn't get when the credit crunch came. Kind of like getting a huge cash advance on your credit card before the credit card company cuts you off. The boys running Ford knew what was coming and made plans to deal with it.
Chief Financial Officer Lewis Booth announced the action earlier this week at an investor presentation in Frankfurt, Germany. Ford spokesman Todd Nissen confirmed that the payment was made Thursday. Ford's total debt now stands at $12.2 billion, down from $33.6 billion at the end of 2009.
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Today's Featured Article - Grain Threshing in the Early 40's - by Jerry D. Coleman. How many of you can sit there and say that you have plowed with a mule? Well I would say not many, but maybe a few. This story is about the day my Grandfather Brown (true name) decided along with my parents to purchase a new Ford tractor. It wasn't really new except to us. The year was about 1967 and my father found a good used Ford 601 tractor to use on the farm instead of "Bob", our old mule. Now my grandfather had had this mule since the mid 40's and he was getting some age on him. S
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